Exercise 6-2 Alternative cost flow assumptions-perpetual L02 eXcel CHECK FIGURES: COGS a. $9,400.00; b. $9,417.90 Urban Glam Cosmetics made purchases of lipstick in the current year as follows: Jan. 1 Beginning inventory.................. Mar. 14 Purchased T July 30 Purchased Units available for sale..... Cost of goods available for sale................. 75 units 250 units 500 units 825 units $12.00 $13.00 $14.00 ***** Also calculate the gross profit under each method. S 900 3,250 7,000 Urban Glam Cosmetics made sales on the following dates at a selling price of $35 per unit: 70 units 180 units Jan. 10 Mar. 15 Oct. 5 Total 450 units 700 units $11.150 Required The business uses a perpetual inventory system. Determine the costs that should be assigned to the ending inventory and to goods sold under: a. FIFO b. Moving weighted average (round to the nearest whole cent)

Exercise 6-2 Aternative cost flow assumptions-perpetual Lo2 )ce CHECK FIGURES: COGS a. 59,400.00;0.59,417.90 Urban Glam Cosmeties made purchases of lipstick in the current year as follows: Urban Glam Cosmeties made sales on the following dates at a selling price of $36 per unit: Required The business uses a perpetual inventory system. Determine the costs that should be assigned to the ending inventory and to goods sold under a. FTFO b. Moving weighted average (round to the nearest whole cent) Also calculate the gross profit under each method